Macquarie moves into India

The Aussie investment bank establishes a securities brokerage operation in Mumbai and hires three key executives.

Macquarie Bank is jumping aboard the Indian equities gravy train by opening a securities brokerage business in Mumbai to focus on equity capital markets, convertible notes, MA advisory and specialist funds management.

The move requires regulatory approval, but Macquarie has already named three key executives to run the operation. Stuart Smythe has relocated from the bank’s New York office to be head of equities in India, while Sarosh Irani has joined as chief operating officer...